A Plea for Honesty in Campaigning
Welcome to the Thunderdome!

Note to Self: Potential Dealbreakers:

For political viability and rough equity, the financial rescue plan requires:

  • Pay reform
    • Cancellation of current golden parachutes
    • Look backs in the future--pay over $1M conditioned on the long-term profitability of the enterprise over more than a decade
  • Substantial upside for the government
    • Immediate substantial equity dilution via warrants for companies that put any substantial share of their assets to the Treasury
  • Congressional approval of terms
  • Personnel: I wouldn't vote for anything that could give a McCain-appointed Treasury Secretary this much authority. I don't think I know Paulson well enough to trust him with this much authority. (I would trust Bernanke.)

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